Oil drilling rigs Oil prices rose on Friday, driven by seasonal travel demand, as markets assessed the potential impact of drone attacks on oil fields in northern Iraq on supply. Brent crude futures for September delivery climbed 0.45%, or 30 cents, to $69.82 a barrel as of 08:00 am KSA time. WTI crude futures for […]
Oil prices rise on seasonal demand for travel Read More »
The European Union has approved its latest sanctions package, the 18th since the full-scale Russian invasion of Ukraine over three years ago, including a key price cap on Russian oil exports. “We are striking at the heart of Russia’s war machine. Targeting its banking, energy and military-industrial sectors and including a new dynamic oil price
EU Approves New Russia Sanctions Package Including Key Oil Price Cap Read More »
The aviation industry should stop branding all alternatives to traditional kerosene as “sustainable” or risk facing lawsuits, a climate nonprofit has warned, as concern grows about fraud in the production of sustainable aviation fuel (SAF). Consumer protection laws and anti-greenwashing regulations across Europe could expose the industry to legal challenges if it misleads the public
Airlines risk legal challenges by advertising jet fuel as “sustainable”, NGO warns Read More »
Kiharu Member of Parliament Ndindi Nyoro has spoken out against the recent rise in fuel prices, accusing the government of misleading the public and engaging in questionable borrowing practices that could harm Kenya’s financial future. Nyoro rubbished the Ministry of Energy’s explanation issued on Tuesday that blamed the price surge on rising global oil prices.
Ndindi Nyoro Accuses Govt of Misleading Kenyans on Fuel Prices and Secret Borrowing Read More »
WTI price appreciates as Trump signals the possibility of additional sanctions on Russia. The EU may lower the price cap on Russian oil as part of its upcoming 18th sanctions package against Moscow. The International Energy Agency reported that Saudi Arabia exceeded its oil output target, surpassing level implied by the OPEC+ agreement. West Texas
WTI advances to near $68.00 as traders await Trump’s statement on Russia Read More »
Oil drilling rigs Barclays on Thursday said it raised its Brent oil price forecast by $6 to $72 per barrel for 2025 and by $10 to $70 a barrel for 2026 on an improved outlook for demand, Reuters reported. “Geopolitical tensions have eased as the US.-mediated ceasefire between Israel and Iran continues to hold and
Barclays raises Brent forecast to $72/brl for 2025 Read More »
Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info By Irina Slav – Jul 04, 2025, 1:25 AM CDT Crude oil prices were on course for a modest weekly gain today, buffeted by both headwind and tailwinds, including OPEC+ policy, U.S.
Oil Prices Set to End the Week With a Modest Gain Read More »
The International Monetary Fund (IMF) expects the gulf between this year’s budgetary spending and revenue of Africa’s biggest oil producer to widen further in the face of geopolitical threats to the prices of crude, which contributes around two-thirds of government income. Oil has been hit by a mix of shocks since January, including Donald Trump’s
IMF warns Nigeria of increased budget deficit as oil prices fall Read More »
In many parts of Nigeria, when night falls, darkness takes over. Millions of families still rely on candles, kerosene lamps, or even firewood for lighting and cooking. For businesses, power cuts are so common that many rely on noisy, expensive generators to keep going. The lack of reliable electricity is more than an inconvenience; it’s
Power to prosper: How energy transition can reduce poverty in Nigeria Read More »
Oil prices plunged Tuesday morning after President Donald Trump secured a ceasefire between Iran and Israel, bringing an abrupt end to a conflict that had threatened to ignite a wider regional war. The markets responded with enthusiasm—Brent crude dropped decisively below the $70 mark, a move that signals both geopolitical relief and a potential windfall
Peace Dividend: Oil Market Celebrates Trump-Brokered Peace as Prices Drop Below $70 Read More »
